Average deposit rates in Russia have dropped to a minimum in two years

Average deposit rates at the largest Russian banks have dropped to their lowest levels in the last two years. This is evidenced by the data of the financial marketplace index "Finuslugi" on February 24.

The 50 largest banks have an average return on investments for up to three months of 14.2%, the lowest since December 2023. Deposit rates for six months also fell to a minimum — to 13.87%, and the average annual investment rate was at 12.75% (the last time this value was recorded in February 2024).

According to the index of average financial services rates in the top 20 banks (deposits of 100 thousand rubles without additional conditions are taken into account), last week the rates on short deposits (three and six months) continued to decrease. The average rate for a period of twelve months has stabilized at about 12.8% per annum.

The downward trend in deposit yields is observed against the background of the easing of the monetary policy of the Bank of Russia.

Profit, but: in seven years, only gold and deposits have generated income above inflation

What is the reason for this and what can you earn in 2026?

On February 13, the Central Bank lowered the key rate to 15.5% per annum. The regulator stressed that the acceleration of price growth in January was due to one-time factors, and after their exhaustion, inflation will begin to decline again.

Georgy Ostapkovich, research director of the HSE Center for Market Research, told Izvestia that the Central Bank's reduction of the key interest rate to 15.5% would affect consumer lending. According to the expert, the Central Bank decided to lower the rate in favor of economic growth in order to avoid the withdrawal of economic agents from the market and from business. In addition, he noted that a reduction in the rate to 15.5% is a positive signal for businesses, which may mean a further reduction.

The head of the Ministry of Economic Development, Maxim Reshetnikov, announced on February 12 that the Russian economy would continue to slow down in the first half of this year, but the growth rate would recover in 2027. The minister also assured that the agency would update its economic growth forecasts for this year and the planned period.

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